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George Washington University expert analyses Disney's latest investments on cruises, theme parks

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 07 October 2023 07 October 2023

The Walt Disney Company recently announced plans to spend about $60 billion over the next 10 years on its theme parks, domestically and internationally, as well as to continue building its Disney Cruise Line. It’s double the investment Disney has spent on its parks and cruise lines over the last decade. A professor at the George Washington University says there are several factors driving this new investment, like a renewed interested in cruises post-pandemic, as well as some potential disruptors to keep an eye on.

Larry Yu is a professor of hospitality management at the GW School of Business. Yu’s current research focuses on hotel market analysis, tourism product value chain analysis, tourist satisfaction and hospitality crisis management. Yu says Disney’s strategic decision to invest in its theme parks and cruise lines is based on three main factors. The first of which is about Disney’s pandemic recovery, which saw significant operating income growth. The second involved Disney’s reputation. Yu adds that Disney is known for its innovation in “imagineering” projects, services and experiences and it’s now critical to invest in new attractions and experiences for the next-generation as well as extend the life cycle of Disney attractions to drive new, latent demand from family tourists and welcome repeat visitors. The third factor relies in a larger trend in the travel industry.

“The cruise industry is booming after the pandemic. Demand for cruise travel is now higher than 2019. Major cruise lines are adding capacity by building new ships (Disney Treasure will start sailing by late 2024). Many younger people, including Millennials and Gen-Z, have become cruise travelers, which fits the Disney market,” Yu says. “Disney Cruise Line, like many other major cruise lines, have been investing in owning and developing private islands for growing cruise business. Castaway Cay in the Bahamas and the new Lighthouse Point in the Bahamas will be open for cruise visitors in the summer of 2024. These investments, executed strategically, will continue to propel Disney’s growth for the next decade.”

Yu says there are a couple of potential inhibitors that may disrupt Disney’s investment strategy. Those include:

1. Demographic changes in its international markets: Japan, China and Europe are all experiencing an aging population, declining birth rates and late marriage, which could affect the family tourist market for the parks;
2. Many cruise destinations experience over-tourism and are pushing back to limit ships and number of daily visitors (such as Dubrovnik in Croatia);
3. Local community buy-in for park expansion, such as the new Disneyland WestCOT project under the local community hearing and review. Similar project by Disneyland was rejected by the local community in the early 1990s;
4. Uncertainties affected by economic, social, political (Florida) and geopolitical factors.

Royal Caribbean names next Icon-class ship Star of the Seas

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 06 October 2023 06 October 2023

The next revolutionary vacation is on the horizon, and its name is Star of the Seas. Just shy of 100 days until the introduction of the first-of-its-kind combination of every vacation with the first in the Icon-class lineup, Icon of the Seas, Royal Caribbean International has revealed the name of the next Icon-class ship and its debut season – the summer of 2025.

The world’s largest cruise line will follow up Icon’s debut, the start of a new era of vacations, in the boldest way. With the combination of every kind of vacation that’s unique to Icon-class – from the beach retreat to the resort escape and the theme park adventure – the lineup of new experiences and favorites on Star will set the stage for even more ways for every type of family and adventurer to make memories without compromise. Currently under construction in Turku, Finland, the new ship and its features will soon be revealed.

“The idea of combining the best of every type of vacation into one ultimate adventure has created more excitement than ever anticipated, and Star of the Seas will be the next bold answer to the record-breaking consumer demand we’ve seen for nearly a year and counting with Icon of the Seas,” said Michael Bayley, president and CEO, Royal Caribbean International.

The first look at Icon and Icon-class set the tone in October 2022 when it led to the cruise line’s single largest booking day and highest volume booking week in the brand’s then 53-year history. The unprecedented consumer demand sparked Royal Caribbean to release 2025-2026 vacations on Icon three months ahead of schedule and now Star’s name and debut season. Icon’s highlights include six record-breaking waterslides at Thrill Island’s Category 6 waterpark, seven pools – one for every day of the week; Surfside, a stay-all-day neighborhood for young families; entertainment across air, ice, water and stage; 40-plus ways to dine and drink; and more.

Star will also mark another step in this new era as the cruise line’s third ship powered by liquefied natural gas (LNG), combining the use of the cleanest-burning marine fuel available to date with a proven lineup of industry-leading environmental programs on board. With applications ranging from waste heat recovery systems to shore power connection, Royal Caribbean’s most sustainable ship will advance parent company Royal Caribbean Group’s journey to introducing a net-zero cruise ship by 2035.

Åbo Akademi and Meyer Turku deepen their green transition cooperation

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 05 October 2023 05 October 2023

The long-standing cooperation between Åbo Akademi and Meyer Turku was further strengthened at the Meyer Turku shipyard on Wednesday, October 4th with a signed partnership agreement.

The agreement period is five years and the focus lies initially on Åbo Akademi's Faculty of Natural Sciences and Technology and Meyer Turku's Business Finland funded green transition program NEcOLEAP. An important form of practical cooperation will be the "Green transition lab", a shared workspace to be established on the Åbo Akademi campus, which supports the interaction between researchers and industry. The presence of researchers at the shipyard in Perno will also be increased within the framework of joint projects.

A long-term goal is also to create interdisciplinary strategic cooperation between several different faculties of Åbo Akademi and Meyer Turku. The partnership agreement also includes a sponsored professorship, doctoral student positions and a range of courses adapted for lifelong learning in the shipbuilding industry.

"To support the ambitious goals in the agreement, we will initially focus on appointing the professorship in sustainability that Meyer finances with a particular focus on process technology, energy technology and industrial engineering and management. This is a very significant and highly valued collaboration for us," says Kim Wikström, professor of industrial engineering and management at Åbo Akademi.

"We are very satisfied with this agreement, which will bring our company’s and Åbo Akademi Universitie's’ scientific expertise even closer together. Technical fields naturally play a key role in shipbuilding, but our common goal, a more sustainable maritime industry, requires top experts also from many other disciplines. Turku as a thriving study and working region offers a strong framework for this. The now signed agreement also ensures that we will expand the interaction between the Academy and the business world," says Tim Meyer, CEO of Meyer Turku.

"Partnerships between industry and universities is valuable. The cooperation with Meyer towards an important goal like the green transition is very meaningful. Increasing interdisciplinarity will bring us ever closer to our common goal," says Åbo Akademi Rector Mikael Lindfelt.

Chantiers de l'Atlantique floats out The Ritz-Carlton Yacht Collection's second vessel

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 30 September 2023 30 September 2023

The Ritz-Carlton Yacht Collection marked a significant construction milestone with the successful float out of its next superyacht, Ilma, at Chantiers de l’Atlantique shipyard in Saint-Nazaire, France. This traditional maritime celebration brought together senior leadership and shipbuilders in anticipation of Ilma touching water for the first time, signifying the commencement of its next phase of construction in preparation for its maiden voyage in 2024.

The float out event was attended by company leadership from The Ritz-Carlton Yacht Collection including Jim Murren, Executive Chairman and CEO, and Ernesto Fara, President and CFO. Also present were representatives from Chantiers de l’Atlantique, including Laurent Castaing, General Manager, and Arnaud Le Joncour, Senior Vice President of Sales and Marketing.

As part of the float out, the yacht’s dry dock was filled with water overnight, then moved to an outfitting dock where it will remain for the rest of its build leading to sea trials in April and start of its first season. Now afloat, final-stage construction will focus on completing interiors, fixtures, and fittings for suites, restaurants, and other public spaces that will welcome guests to experience a new journey of discovery at sea in just less than a year.

“As we celebrate this remarkable milestone, we are immensely proud of the dedication and craftsmanship by all those involved in the construction of Ilma,” remarked Jim Murren. “We are thrilled to have partnered with the team at Chantiers de l’Atlantique and are excited to enter the next stage of construction and outfitting in anticipation of the yacht’s inaugural journey next year, expanding our fleet and vision within the ultra-luxury space.”

Ilma, meaning “water” in Maltese, will be the second newbuild superyacht from The Ritz-Carlton Yacht Collection. Measuring 790-feet, the yacht will feature 224 airy, light-filled suites, all with private terraces, and will accommodate up to 448 passengers. Paving the way for a new era of cruising, this brand extension introduces an entirely unique experience at sea, illustrating the ongoing commitment to innovative luxury travel experiences from The Ritz-Carlton. Ilma will offer expansive public spaces and will have one of the highest space ratios at sea, ensuring an exceptional journey.

The onboard experience will reflect the unparalleled lifestyle and legendary service for which The Ritz-Carlton brand is recognized, including state-of-the-art technology, five distinct dining venues, and a Ritz-Carlton Spa.

Delivering thoughtfully curated itineraries and unforgettable journeys for guests, Ilma will join the company’s first yacht Evrima in visiting the most coveted destinations in the Mediterranean and Caribbean, with select ports of call in Central America and South America, depending on the season.

The yacht’s sleek and graceful exterior design, expertly crafted by Helsinki-based design studio Aivan, draws inspiration from the elegant aesthetics of private yacht design. Interiors will seamlessly blend warmth and sophistication with a relaxed atmosphere, showcasing modern craftsmanship and interior finishes imagined by AD Associates, a renowned London-based architectural and design firm, and award-winning lighting designer, DPA.

“We are thrilled to witness Ilma’s float out. Ilma embodies Chantiers de l’Atlantique’s dedication to ultra-luxury,” expressed Arnaud Le Joncour. “This milestone marks the beginning of the next construction phase of outfitting. Drawing inspiration from Ilma’s elegance, clean lines, and unique features, our teams are united in the pursuit of meeting the expectations of today’s most discerning luxury travelers.”

Explora I makes its U.S. debut

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 29 September 2023 29 September 2023

The port of New York City welcomed Explora I for its maiden call to mark Explora Journeys’ debut in the U.S.on September 25 The luxury ship is the first of a fleet of six ships of the luxury travel brand of the MSC Group.

The maritime tradition of a crest exchange to celebrate a ship’s first visit to a destination took place on board the vessel at the Manhattan Cruise Terminal between the ship’s master Captain Diego Michelozzi and Captain Zeita Merchant, Commanding Officer of the U.S. Coast Guard Sector New York.

Michael Ungerer, CEO, Explora Journeys, said, “We are very proud to bring our extraordinary new ship, Explora I, to New York City. New York City is one of the most important destinations in the Northeastern U.S. and it is an honor to showcase our highly anticipated new ship and luxury experience in the North American market. Our team has worked tirelessly to push the boundaries of innovation and excellence to create a product that we are thrilled for guests to see when they embark in New York City.”

Explora I set sail for her inaugural East Coast U.S. and Canada voyage following the maiden call in New York. The itinerary will call Boston, Massachusetts in the U.S. and Saint John, Bay of Fundy and Quebec City in Canada. The luxury ship will then sail two additional 7-night journeys along the East Coast of the U.S. and Canada, before heading to Miami, Florida for the beginning of the Caribbean season.

Ungerer added, “Throughout these journeys, our guests will experience the authentic and bespoke experiences offered by Explora Journeys. With best-in-class service, exquisite onboard offerings and immersive destination experiences, they will reach an ‘Ocean State of Mind’. A balanced blend of on- and off-the-beaten-path destinations will allow our guests on Explora I to indulge in authentic cultural experiences and a slower pace of travel, leaving them rejuvenated and inspired.”

Explora I is equipped with the latest environmental and marine technologies, including selective catalytic reduction technology, shore power plug-in connectivity, underwater noise management systems to protect marine life and a comprehensive range of onboard energy efficient equipment to optimize engine use to further reduce emissions.

Explora I first set sail in July 2023. Explora II will enter service in summer 2024 and operate until April 2025 in the Mediterranean Sea and the Middle East. Explora III and Explora IV will both be powered by liquefied natural gas and enter service in 2026 and 2027 respectively. Explora V and Explora VI will both be powered by hydrogen and enter service in 2027 and 2028 respectively.

Editor's note: We are currently onboard the Explora I to prepare our cover story for the Winter 2023/2024 issue.